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Net Income Per Share | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
NET INCOME PER SHARE | NET INCOME PER SHARE The following table sets forth the computation of basic and diluted net income per share (in millions, except per share amounts). Basic net income per share is calculated by dividing net income by the weighted average of shares outstanding during the period. Diluted net income per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. The Company paid approximately $6 million during June 2024 to repurchase and cancel its outstanding stock warrants, previously issued in connection with the Payroll Support Program.
| Three months ended September 30, |  | Nine months ended September 30, |
| 2024 |  | 2023 |  | 2024 |  | 2023 |
NUMERATOR: |  |  |  |  |  |  |  |
Net income | $ | 67 |  |  | $ | 193 |  |  | $ | 204 |  |  | $ | 717 |  |
Add: Interest expense | — |  | (a) | 5 |  |  | 15 |  |  | 15 |  |
Net income attributable to common stockholders | $ | 67 |  |  | $ | 198 |  |  | $ | 219 |  |  | $ | 732 |  |
DENOMINATOR: |  |  |  |  |  |  |  |
Weighted-average shares outstanding, basic | 599 |  |  | 596 |  |  | 598 |  |  | 595 |  |
Dilutive effects of Convertible Notes | — |  |  | 42 |  |  | 43 |  |  | 42 |  |
Dilutive effect of restricted stock units | 2 |  |  | 2 |  |  | 2 |  |  | 2 |  |
Adjusted weighted-average shares outstanding, diluted | 601 |  |  | 640 |  |  | 643 |  |  | 639 |  |
NET INCOME PER SHARE: |  |  |  |  |  |  |  |
Basic | $ | 0.11 |  |  | $ | 0.32 |  |  | $ | 0.34 |  |  | $ | 1.20 |  |
Diluted | $ | 0.11 |  |  | $ | 0.31 |  |  | $ | 0.34 |  |  | $ | 1.15 |  |
Antidilutive amounts excluded from calculations: |  |  |  |  |  |  |  |
Convertible debt | 44 |  |  | — |  |  | — |  |  | — |  |
Restricted stock units | — |  |  | 1 |  |  | 1 |  |  | 1 |  |
(a) For the three months ended September 30, 2024, Interest expense is not added back to the numerator due to the Convertible Notes being anti-dilutive.

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